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Top 3 EU Countries for Opening Non-Resident Bank Account

If you are looking to open non-resident bank account in the EU, then keep reading on as we are going to discuss general steps and best countries to open bank accounts in.


In today's interconnected world, banking knows no borders. Non-residents now have the opportunity to access European Union (EU) banking services, but the process can be challenging. This guide explores the best EU countries for non-resident accounts and the key factors to consider.


Understanding the Challenge


Opening an EU bank account as a non-resident presents challenges due to varying requirements across countries and institutions. These may include the need for a residence permit, tax identification number, proof of income, or a minimum deposit.


If you are opening a non-resident bank account in the EU for business or a company, requirements are different and sometimes even more relaxed. For example, you may be a non-EU resident and own a company registered within the EEA, which will automatically enable you to open a bank account.


However, banks will try to understand what physical operations will be carried out in the EU and general line of the business. On top, you should have a registered address within the EU borders or even a local director, just so banks feel more comfortable in opening an account.


Alternatively, electronic money institutions (EMIs) and digital-only banks (more about EMI’s here) offer a streamlined application process, making non-resident account access more accessible for both individuals and companies. If you would like to receive an up to date list of digital banks that can open accounts for non-resident, fill a contact form and we will send it via email.


Critical Points For Having Non-Resident Bank Accounts in the EU


When exploring non-resident accounts in the EU, several essential factors come into play:


1. Account Fees and Benefits: Pay attention to fees such as maintenance charges, transaction fees, currency conversion or hedging costs, and ATM withdrawal charges. Additionally, examine account benefits like mobile app, cashback rewards, and relationship manager or point of contact.


2. Accessibility and Management: Evaluate how easy it is to open and manage the account. Consider factors like online banking platform availability, mobile app user-friendliness, and customer service quality in-app and on the phone.


3. Legal and Regulatory Environment: Understand the legal and regulatory framework of the country and banking provider, including data protection policies, tax requirements, and deposit guarantee schemes.


4. Provider's Flexibility: Assess the institution's policy for non-residents. Some may require proof of EU residence, local office and director, functioning website, while others have a more relaxed approach and might open an account having a basic pack of company documents.


Top 3 EU Countries for Non-Resident Accounts


1. United Kingdom: As a fintech hub, United Kingdom offers a quick and cost-effective entry to the EU digital banking market. There are plenty of digital and traditional banks that can serve as multi-currency gateway to EEA markets. Accounts in the UK have GB IBANs that are usually multi-currency and can receive or send all European currencies and more.


2. The Netherlands: Recognized for its progressive banking infrastructure, the Netherlands offers global access to digital services and seamless online account opening. Moreover, Dutch traditional banks highly support local Fintech ecosystem and having an account with digital bank is as much effective as having a top tier traditional bank account.


3. Germany: With stability and access to the EU online banking market, Germany boasts a wide range of services. Germans are well known to have a reliable and trust-worthy banking system that ensures the safety of funds.


If you would like to explore the above discussed countries and most non-resident friendly banks for account opening, get in touch with us and we will make sure that you get the best possible deal for your banking services!




In conclusion, opening a non-resident bank account in the EU offers a world of financial opportunities for both individuals and businesses. While the process can be challenging, understanding the specific requirements and considering key factors such as fees, accessibility, legal regulations, and provider flexibility can help you make an informed decision. The top three EU countries for non-resident accounts, including the United Kingdom, the Netherlands, and Germany, provide diverse options to cater to your banking needs. If you're ready to explore these options further and find the best banking solution, don't hesitate to reach out to us, and we'll ensure you secure the most favorable deal for your banking services.


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